Canadian police are on the hunt for four individuals, suspected of a defrauding a local bitcoin company via "double spend" attacks on Bitcoin ATMs. Police say 17 transactions were made in Toronto, 27 in Montreal, 13 in Winnipeg, two in Sherwood Park and one in Ottawa.

Cybercrime Team (CPS) is investigating a series of fraudulent crimes with BitcoinATMs that resulted in the Canadian blockchain company incurring a loss of 195,000 Canadian dollars (approximately 146,000 United States dollars).

According to the Canadian news outlet, CBC, the 4 Canadian men are wanted in connection with conducting double-spend attacks against Bitcoin ATMs in four different cities. Though the identities of the perpetrators are not now known, the Calgary police are requesting the public's help in identifying them.

Law enforcement teams in Calgary are spearheading a nationwide investigation into a suspected Bitcoin fraud ring that made off with almost $200,000 in a little over a week.

0-conf transactions are instantaneous; once the transaction is sent to the Bitcoin mempool, it is deemed completed despite the fact that miners haven't yet "mined" a block containing the transaction.

Police say the suspects were committing "double-spend" attacks - a type of fraud where someone withdraws money from a Bitcoin kiosk before remotely cancelling the transaction before the Bitcoin company can process the transaction.

This man is suspected of making fraudulent transactions in Toronto, Montreal, Ottawa and Hamilton.

The second suspect is believed to be responsible for transactions that occurred in Calgary.

Police from Toronto, Hamilton, Halton and Winnipeg are assisting with the Calgary Police Cybercrime Division's investigation of the thefts.

The police asked the public assistance in identifying the people involved in the crimes.

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